Is a 1099-PATR from a loan taxable income?

[JohnW152]

Form 1099-PATR isn't typically associated with a loan, but information reflected on it may be taxable income.

Please clarify what boxes are entered on the form, how the information is related to a loan, and any other relevant information.

According to About Form 1099-PATR, Taxable Distributions Received From Cooperatives:

Cooperatives file Form 1099-PATR for each person:

• To whom the they paid at least $10 in patronage dividends and other distributions described in section 6044(b).
• From whom they withheld any federal income tax under the backup withholding rules regardless of the amount of the payment.

[r46tinoco]

I purchased land for personal use through a Farm credit bank, and they issue patronage based on the proportion of interest paid on the loan and total interest earned by the association.  And only box 1 of the 1099-PART is filled out with the dollar amount, and I’m not sure if it is taxable income since it is from loan used to purchase land for personal use.

[ThomasM125]

The instructions on Form 1099-PATR say that the amount in box 1 is not taxable if it is associated with property you bought for personal use. So, you don't need to enter the income on your tax return.